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Trading Made Simple

  • #2,421
  • May 13, 2011 12:26am May 13, 2011 12:26am
Quoting SnapCracklePip
Theres one on another forum called Swiss Army EA it is a trade manager EA it does not take trades but manages trades in a variety of ways (depending on how you set it up)...
SnapCraklePip, I understand that this EA has been out for awhile now. I'm wondering if there are special inputs for the new "5 decimal" price? For instance, to have a 50 pips trailing stop, is the input 50 or 500? And of course, the platform has to be on in order for the EA to run right? I'm sorry, I've never used an EA before. Thanks much!
  • #2,422
  • Edited 12:59am May 13, 2011 12:29am | Edited 12:59am
Quoting ndhoanggia
SnapCraklePip, I understand that this EA has been out for awhile now. I'm wondering if there are special inputs for the new "5 decimal" price? For instance, to have a 50 pips trailing stop, is the input 50 or 500? And of course, the platform has to be on in order for the EA to run right? I'm sorry, I've never used an EA before. Thanks much!
i just add an extra zero so if i want a 50 pip stop i put in 500 for the setting..... hope that helps

yes you have to be open and connected to your broker for the EA to run....

I would play with in demo until you are used to working with it....took me a few days myself.....You dont want some crazy setting to go haywire on your live account.
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  • #2,423
  • May 13, 2011 12:29am May 13, 2011 12:29am
Just started testing so this might just be an aberation:
I am looking at the pairs that are used by Dean Malone:
Today at Alpari broker time 0100, the top line all had good trade entries as did the bottom line, going the other way. Not a good time for me, I need London, 0100 Alpari is 0200 for me.

Don't know who is awake for those times, suppose that it is the Asian session.

Just thought that I'd mention it.

I am waiting for London to open!
  • #2,424
  • May 13, 2011 12:39am May 13, 2011 12:39am
Quoting silversurfer
I agree, on the H1 charts 25 is reasonable, if trading off H4 and higher larger stops are needed.
For 1m/5m, I would say 25 pips might be fine..
For 15m, we should have about min. 40 SL to withstand fake brakeout,shakeout and whipsaw..

As for 1 hr... 25 pips? Even if you trade direction is right eventually, the chance of getting ur SL is very high... U do the math and gd luck to u..

Sonic
  • #2,425
  • May 13, 2011 1:59am May 13, 2011 1:59am
is this a correct entry for long?
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Trade responsiblypatience is the key/Swing trader
  • #2,426
  • May 13, 2011 2:00am May 13, 2011 2:00am
I think the problem is that a lot of people are getting faked by the TDI.. Opening a trade on the open of the 1st/2nd candle on the 1H or 4H when TDI is at 1/5 o'clock, having it go in their direction for 10-20 pips and then sometimes retracing so they exit. We're effectively scalping off the 1H/4H.
It seems logical to me that if we're going to trade 1H and up we need to be looking for more than 20 pips. So wider SL and wider TP.
Are there any experienced guys with this method out there who can shed some light on how they are spotting the 'real' crosses that go the distance?
I thought I saw a few posts of people who seem to be consistently getting 80-100+ on these trades.
Are we looking for only those in the direction of the major trend? So only TDI crosses after a retracement etc

For me personally I have other ways to scalp, I want to use this for longer moves so aiming for 10-20 pips on each 1H cross seems silly.

Thanks for any help that's given!
  • #2,427
  • May 13, 2011 2:16am May 13, 2011 2:16am
My suggestion on take profit is to follow the rules as explained. When TDI goes flat and/or turns, exit. You can also exit on support / resistance levels or HA candle colour change. Does it need to be more complex then what BigE taught on page 1? Keep it simple.
  • #2,428
  • Edited 2:42am May 13, 2011 2:20am | Edited 2:42am
Quoting nhen
I think the problem is that a lot of people are getting faked by the TDI.. Opening a trade on the open of the 1st/2nd candle on the 1H or 4H when TDI is at 1/5 o'clock, having it go in their direction for 10-20 pips and then sometimes retracing so they exit. We're effectively scalping off the 1H/4H.
It seems logical to me that if we're going to trade 1H and up we need to be looking for more than 20 pips. So wider SL and wider TP.
Are there any experienced guys with this method out there who can shed some light on how they are spotting the 'real'...
i dont see a problem....im loving this system i dont scalp so.......whatever! i do have short trades tho...i dont think this was intended as a scalping system. It is easy peezy and has reduced soooooo much research an work that i had previously gone through in order to enter trades. so far ive had about 75-80% wins for 20+ pips im trading between 1standard and 5 standard....im cranking out 500-1000 a day with this setup.....im pretty much loving it. it is not scalping by any means..... scalping your in and out 1-2-3 pips and seconds between trades usually on tick chart.......not 1hr and 4hr (although i do have a buddy who can scalp a daily chart)

i used to spend endless hours drawing forks and support resistance lines,,,,,updating renko etc etc now all i do is wait for rsi to cross signal line and get a gander of the price action then place a limit (my broker actually pays a commission for limit orders, instead of charging commission and spread)
sooooo whats the problem?

ive got 3 screens so while i wait for a trade i play world of tanks or battlestar online watch tv/movies on hulu or goof off on facebook etc......this system has freed up my life trading is no longer work....its just chill and wait......IMHO theres no need for the stoch just the tdi (which is really the RSI with som moving averages)and the heiken candles (not really necessary either). i love this.......been trading this market 7 years now and its been the most stressful thing i can imagine.......this setup is so easy peezy.....i just cant describe the feeling of relaxation i have now..
  • #2,429
  • May 13, 2011 2:33am May 13, 2011 2:33am
Quoting SnapCracklePip
i dont see a problem....im loving this system ?
Yep. BigE said that as soon as people stopped trying to optimize the system, kept it simple and followed his simple entry and exit rules, the pips flowed in. All you need to know about entry, sl and exit was given in the first few pages. Just my take. Sometimes you get stopped. Sometimes you get small win/loss and sometimes you get a runner. That's how I understand it. Checking every candle open is not scalping IMO.
  • #2,430
  • May 13, 2011 2:34am May 13, 2011 2:34am
i am on eurusd 1 hr -long and usdjpy 4 h bounce - sell, they are riding well. I am expecting some stare in the market in the next 30 minutes because of ECB President Trichet Speaks... keep watching, you may get good signal on 1 hr
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,431
  • May 13, 2011 2:38am May 13, 2011 2:38am
Quoting fxbr56
Dean, I was able to reproduce the TDI red and green indicator by using the following:

RSI 13 period applied to Typical Price (HLC/3)

Moving Average 3 period shift 3 smoothed applied to RSI indicator

It's not an exact copy, but it's very close.
Have you just copied my post 2202, page 147?
  • #2,432
  • May 13, 2011 2:46am May 13, 2011 2:46am
Quoting GeraldFX
Lets stick back to the core of the strategy. Keep it simple.
Kinda getting complicated over the past couple of days!
  • #2,433
  • May 13, 2011 2:55am May 13, 2011 2:55am
Quoting Maharishi
Kinda getting complicated over the past couple of days!
This is how good thread start to turn spun...
Ppl tried to fine tune.. End up get broken..

Sonic
  • #2,434
  • May 13, 2011 2:56am May 13, 2011 2:56am
second stab at this one.....first trade was 5 standard and closed for 10 in the noise....this one i re entered at closing price with 1 standard.....+35 so far thats 359 im my pocket! thanks big E!
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  • #2,435
  • May 13, 2011 3:06am May 13, 2011 3:06am
Lots of potential 4-hour opportunities out there currently...
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  • #2,436
  • May 13, 2011 3:06am May 13, 2011 3:06am
Quoting GeraldFX
Lets stick back to the core of the strategy. Keep it simple.
keep your panties on girly girl! the tdi is just the rsi with a couple moving averages added......some people here dont use mt4 at all and want to build a tdi ............
  • #2,437
  • May 13, 2011 3:09am May 13, 2011 3:09am
Quoting SnapCracklePip
second stab at this one.....first trade was 5 standard and closed for 10 in the noise....this one i re entered at closing price with 1 standard.....+35 so far thats 359 im my pocket! thanks big E!
Hi Snap,

Could you tell us what pairs and time frames you are trading, your charts don't show these details so I am unable to compare and learn from your experiences.

thanks
Money grows on the tree of persistence
  • #2,438
  • May 13, 2011 3:15am May 13, 2011 3:15am
Quoting nhen
I think the problem is that a lot of people are getting faked by the TDI.. Opening a trade on the open of the 1st/2nd candle on the 1H or 4H when TDI is at 1/5 o'clock, having it go in their direction for 10-20 pips and then sometimes retracing so they exit. We're effectively scalping off the 1H/4H.
It seems logical to me that if we're going to trade 1H and up we need to be looking for more than 20 pips. So wider SL and wider TP.
Are there any experienced guys with this method out there who can shed some light on how they are spotting the 'real'...
First of all, to be able to trade this system with confidence, understand how HA works.To me with this system, It is quiet different but better than JAPANESE C. STICKS. Any body that does not understand how HA works may be trading every signal the TDI gives. And you will have Google to study HA.
My best part of using it with TDI is
1.when you have a signal candle (changing of color with TDI CROSSING SAME TIME) with momentum longer than the previous candle by far (long candle body probably with lower/upper wick) may be in the direction of higher time frame trend, expect great moves of multiple candles ahead. Simple. HA with momentum will most of the time break any fibo lines so far it is not close to cluster of support and resistant zones.
2. When you are counter trending, trade lower lot,
3. For the newbie that are still confuse over TDI crossing, use its histogram version, 1.10. It has been posted earlier. It is just the same as TDI lines. only color change on histogram, and you are good to go.
I use swing for stop loss and when in profit , i do adjust as time progresses exit at my own decision because of many factors- news, major resistance/support zones, weakening trend and so on
That is how i trade any way, I am still learning any way
GOOD SET UPS REQUIRES PATIENT
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,439
  • May 13, 2011 3:17am May 13, 2011 3:17am
Quoting ozmacca
Hi Snap,

Could you tell us what pairs and time frames you are trading, your charts don't show these details so I am unable to compare and learn from your experiences.

thanks
gu,gj,eu,ej.au,ay

4hr and 1hr
heres a screen....warning its big.....over 5k wide
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  • #2,440
  • May 13, 2011 3:25am May 13, 2011 3:25am
Quoting adeforex
First of all, to be able to trade this system with confidence, understand how HA works.To me with this system, It is quiet different but better than JAPANESE C. STICKS. Any body that does not understand how HA works may be trading every signal the TDI gives. And you will have...
i like! its not rocket science people RELAX!!! stop OVER LEVERAGING!!!!

there are no home runs in forex only baby steps!

swinging for homerun will kill you.......find consistent wins and compound!
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